Shawshank, VA 5/21/12 (StreetBeat) – Cooper Industries (NYSE: CBE +26.09%) shares leaped 25% to $69.70 early Monday after the company agreed to be bought by Eaton Corp. (NYSE: ETN +1.16%) in a deal valued at $11.8 billion in cash and stock.
The deal calls for Cooper shareholders to get cash and shares worth $72 a share, a 29% premium over Cooper's May 18 closing price. The combined company will have $21.5 in revenue and be incorporated in Ireland. Eaton makes power management products. Cooper makes electrical components. Eaton shares fell 0.7% to $42.10 in early trades.
Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail firstname.lastname@example.org or call (662) 392-0740 for pricing and scheduling.